Sivers IMA reported a strong 2019 sales growth of 35% Y/Y. Most notably it moves forward with Cambium Networks towards commercial deployment. The main driver of the current growth, for now, is still the Photonics segment (Formerly named Fiber), and its Fortune-100 customer. Overall, Sivers IMA’s progression in Q4’19 was in line with our expectations. We find it positive that the company now takes the next important steps towards volume ramp-up, by converting a design-win to a commercial rollout.